Insurance leaders are refuting Vice President Kamala Harris's statement that many insurance companies have canceled policies for wildfire-affected families in Los Angeles. They argue that her claims are false and dangerous, emphasizing that California law prevents policy cancellations during the policy term except in specific circumstances.
Insurance industry leaders are refuting Vice President Kamala Harris’s claim that insurers have abandoned “a lot of the families who have been affected and will be affected” by the Los Angeles wildfires, calling it a “false, wrong and dangerous” statement.
In a Thursday press conference on the ongoing fires, Harris said, “Many insurance companies have canceled insurance for a lot of the families who have been affected and will be affected, which is only going to delay or place an added burden on their ability to recover”:“I think that is an important point that must be raised,” the vice president continued, “and hopefully there can be some way to address that issue, because these families — so many of them — otherwise will not have the resources to recover in any meaningful way, and many of them have lost everything.” CBS News reported that State Farm dropped a staggering 1,600 home insurance policies in the now-devastated Pacific Palisades neighborhood in July. American Property Casualty Insurance Association (APCIA) president and CEO David Sampson pushed back on Harris’s press briefing, stating, “It is false, wrong and dangerous to even insinuate that insurers are abandoning their customers, and it’s especially concerning coming from a former California statewide elected official who should know the law. Insurers are committed to protecting the safety of those affected and providing expedited relief to their policyholders for the covered losses. Noting that California state law prevents insurance companies from canceling policies during its term outside of circumstances like non-payment and fraud, Sampson said that the “implication that people who have insurance coverage effective on January 7th are being canceled — just to leave that impression with people and to create that fear — is irresponsible, in my view.” State Farm discontinued coverage for 72,000 California homes in 2024, and over 100,000 state residents have lost their home insurance since 2019. Sampson said he has been warning state regulators for years about the unsustainable insurance market in California. “Over the last almost decade now, for every dollar of homeowners premium that we have collected, we have paid out $1.09 in claims — and that’s not sustainable,” he told Fox Business.
INSURANCE WILDFIRE HARRIS CALIFORNIA MARKET
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